In the Mr. Sandless franchise agreement, besides the franchisee's signature, are there spaces provided for signatures of principals, and if so, how many?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
- 21.3.8 The buyer's execution of our then-current Single Unit Franchise Agreement as well as execution of a personal guaranty if a partnership, corporation or limited liability company;
Attachment 3 – Guaranty Agreement and Acknowledgment by Guarantor
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2025 FDD)
According to the 2025 Mr. Sandless Franchise Disclosure Document, the franchise agreement may require signatures from principals in addition to the franchisee's signature. Specifically, if the franchisee is a partnership, corporation, or limited liability company, a personal guaranty may need to be executed.
Additionally, if the buyer of a Mr. Sandless franchise is a corporation or limited liability company, Mr. Sandless must approve all shareholders of a corporation transferee, or all members and managers of a limited liability company transferee.
Furthermore, the FDD mentions a Guaranty Agreement and Acknowledgment by Guarantor as an attachment, suggesting that a guarantor, who is a person with an interest in the Mr. Sandless franchise, may need to sign an agreement guaranteeing the franchisee's obligations. The documentation provided does not specify the exact number of signature spaces for principals or guarantors, but it indicates that such signatures may be required depending on the franchisee's business structure and other circumstances.